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Dubai real estate market is optimistic for 2018

Dubai news / Live in Dubaï /
The Dubai Land Department, DLD, has announced that 2017 was a year filled with activity in the real estate market, facilitated by the department's flexible procedures and keenness to strengthen cooperation and coordination with real estate developers, establishing a safe and transparent market environment. Commenting on market activity in 2017, Sultan Butti bin Mejren, Director-General of DLD, confirmed that a total of 90 projects were completed, while 150 projects worth AED82 billion were registered. He said that there had been an optimistic mood in the market since the beginning of 2018, adding that there is a strong demand from developers to deposit the 20 percent escrow of the total value of future projects they intend to launch, as it enhances investor confidence in real estate development projects.




With off-plan sales from developers overwhelming demand in the secondary market, individual owners have limited options on pricing their properties.

Because the moment they set one, there would be a developer with a new project offering that something extra — such as registration fee waivers, lower upfront payments and instalments that can stretch over years.

Off-plan sales made up more than 70 per cent of transactions in Dubai during 2017. The year 2017 was a buyers and renters market, with sales prices and rents sliding across several areas. As we move into 2018, further inventory will float on to the market and provide even more attractive opportunities, piquing the interest of a larger base of consumers to start considering owning a home in the UAE. The growth in the economy coupled with more affordable housing options, should provide for a healthy and positive trend for 2018

The year 2018 already saw the opening of two of Dubai’s major attractions – the Dubai Safari and the Dubai Frame – and residents have still one bigger project to look forward to.

The Shaikh Mohammad Bin Rashid Library, which is set to cost Dh1 billion, is slated for a mid-2018 opening, and Dubai Municipality officials have been closely monitoring its progress.

Although the exact date of the opening has not been revealed, the project is still scheduled to be ready in the next six months.

The massive library was designed in the shape of a lectern, and covers an area of 66,000 square metres. Located on the Dubai Creek in Al Jaddaf area, the project consists of a main building with basement, ground floor and seven floors, in addition to a central warehouse for books.

Dubai Properties, a leading Dubai-based real estate master developer celebrated the spectacular voyage of the UAE’s first-ever water home as it made its way along the city’s newest attraction - the Dubai Water Canal - at Marasi Business Bay 

Marasi Business Bay, once complete, will not only feature state-of-the-art water homes that come with pools and surrounded by floating restaurants. It will also see the Park, the Pier and the Marina that will eventually comprise 800 berths, stretch along the Dubai Water Canal, making it the region’s first purpose-built yachting hub at the heart of the city.

The water homes are a considerable turnkey project for Dubai Properties as the developer introduces a real estate innovation that combines centuries of ship building heritage with cutting-edge design that will forever transform waterfront living in the emirate.

Azizi Developments has announced that its Azizi Plaza Serviced Apartments project in Dubai will be delivered ahead of schedule.

Emaar Development launch sales for Saffron, the first townhouse community in Emaar South, the 7 square kilometre lifestyle destination. A joint venture with Dubai South, Emaar South offers a mix of tiered town homes, townhouses, villas and apartments.

Our Dubai team at Vendome International Property, has a strong sense and knowledge of the market. We have been collaborating with all the major developers, in order to bring best investment opportunities for our clients. Our Dubai team shares wealth of experience and have got in-depth knowledge of the local real estate. With so many opportunities available on the market, let us help you in finding the most suitable property which meets your requirements.